The Federal Reserve is wrapping up its first regularly scheduled monetary policy meeting since the global economy was turned upside down because of the COVID-19 pandemic. Since early March, the U.S. central bank has thrown all it can at the growing economic crisis; in less than two months, it lowered interest rates to the zero bound range and introduced unlimited quantitative easing measures.Peter...Read More

Continue...Alasdair Macleod is head of research for GoldMoney. He also runs FinanceAndEconomics.org, a website dedicated to sound money and demystifying finance and economics. He has a background as a stockbroker, banker and economist. Read More

Iranian export billet and slab prices dipped in late April as lower offers and bid prices were heard in the market.A few offers for Iran-origin billet were heard at $345 per tonne fob southern ports, compared with the $350-355 per tonne fob targeted by mills a week earlier.However, even with the discount, the price was considered to high by market participants. Bids...Read More

China's domestic traders kept prices for rebar unchanged on Wednesday April 29 despite rising futures in an attempt to generate more sales.Domestic Eastern China (Shanghai): 3,400-3,430 yuan ($481-485) per tonne, unchangedRebar futures picked up during the day, but traders in the spot market refrained from raising prices in the hope of drawing down their stock levels more ahead of the May 1-5 Labo...Read More

Money manager Adrian Day reviews a exploration company that he rates a "strong buy." Lara Exploration Ltd. (LRA:TSX.V, 0.54) is a diversified prospect generator, mostly with copper and copper-gold projects in Brazil and Peru. It aims to generate royalties from properties it generators, whether by staking or in some cases acquiring. Its main assets include a 30% free-carried interest, plus royalty...Read More

Maurice Jackson of Proven and Probable discusses the latest news from Millrock Resources with the company's CEO. Maurice Jackson: Today we will provide an update on Millrock Resources Inc. (MRO:TSX.V; MLRKF:OTCQB), as we will discuss their initial assay results on the Aurora targets located in the prolific Tintina gold province in Alaska. Joining us for our conversation is Gregory Beischer, the C...Read More

June-dated crude rose 22% for first gain in three sessionsThe Dow marked a healthy session, up over 530 points, as investors cheered upbeat trial data from Gilead Science's (GILD) potential coronavirus treatment. In fact, all three major indexes managed to hold on to this morning's optimism, after the Federal Open Market Committee's (FOMC) April meeting statement said that interest rates will rema...Read More

Weekly calls are all the rage todayGilead Sciences, Inc (NASDAQ:GILD) has been the darling of Wall Street today, after a study conducted by the National Institute of Allergy and Infectious Diseases found that its experimental coronavirus drug remdesivir met its primary endpoint. Now, emergency use of the drug awaits approval from the Food and Drug Administration (FDA), which could come as soon a...Read More

Prices for hollow steel sections in Europe moved downward this week, with demand not yet showing any sign of rebounding, sources told Fastmarkets on Wednesday April 29.Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?580-595 ($629-645) per tonne on Wednesday, down from ?,?585-600 per tonne one week before.Demand in Northern and Southern...Read More

Facebook is expected to post its quarterly results after the close this afternoonThe shares of Facebook Inc. (NASDAQ:FB) are extending their rally today, up 7.4% at $196.52, in anticipation for the social media giant's first-quarter earnings report, due out after the close this afternoon. The security is up an impressive 43% off its mid-March lows, with help from its ascending 10-day average, and...Read More

AMC said it would no longer screen Comcast subsidiary Universal Studio's movies Movie theater giant AMC Entertainment Holdings Inc (NYSE:AMC) is on a roll this week, snatching up multiple one month highs and on its way to its biggest weekly win in over 20 years, up 67.6% so far. The equity is extending that rally into today, up 23.2% at $5.10, amid news that it will no longer play Universal Studi...Read More

The security has found plenty of support on the charts as it chugs higher Network operator Ciena Corporation (NYSE:CIEN) has seen some impressive price action on the charts of late. After breaking back above a long-term trendline, the shares are forming a bull flag pattern around $46, which is three times its 2016 lows. After being turned away from here on its first few attempts, there's support i...Read More

Oil prices are on the mend as wellAs Wall Street unpacks earnings in waves, the Dow Jones Industrial Average (DJI) was last seen up almost 500 points at midday. The Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are also on the uptrend -- riding the coattails of one FAANG name's impressive quarterly report -- despite GDP experiencing a 4.8% first-quarter drop, its largest since 2008. Follo...Read More

Starbucks posted an earnings miss, but revenue that came in higher than expected The shares of Starbucks Corporation (NASDAQ:SBUX) are down 0.4% at $78.39 this morning, after reporting fiscal second-quarter earnings of 32 cents per share, which came in below Wall Street's estimates, but revenue of $6 billion that exceeded expectations. Starbucks also forecast a 25%- 35% drop for its current-quarte...Read More

GOOGL reported higher-than-anticipated revenueShares of Alphabet Inc (NASDAQ:GOOGL) are up 7.8% to trade at $1,328.66, climbing on the heels of a higher-than-expected first-quarter revenue, despite a notable decline in ad sales. The Google parent also announced profits of $9.87 per share, lower than the estimated $10.33 per share. Analysts have been quick to react, as no fewer than 13 firms have r...Read More

Uber's Chief Technology Officer Thuan Pham will step down from his position next monthIt's a big day of headlines for Uber Technologies Inc (NYSE:UBER). The ride share company's Chief Technology Officer (CTO) Thuan Pham just stepped down, effective May 16. Meanwhile, Uber is discussing plans to cut roughly 20% of its staff, as stay-at-home restrictions heavily curb demand for its services.Despite...Read More

Wall Street is brushing off a larger-than-expected first-quarter GDP readingDow Jones Industrial Average (DJI) futures aresignaling a bigboost ahead of a jam-packed news day on Wall Street. Earnings season is in high gear, with both Boeing (BA) and Alphabet (GOOGL) sharing notable reports. Meanwhile, futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are moving higher as well.Else...Read More

The metals complex showed relative stability this week asthe oil market suffered a historic meltdown. West Texas Intermediate Crudecrashed 70% at one point this week on the continuous contract, bringing pricesbriefly below $7 per barrel. By Thursday, prices were trading between $14 and$18 per barrel.The volatility on the May futures contract was even moreextreme. On Monday, May futures for crude o...Read More

Analyzing how the S&P 500 index has performed in the six months leading up to an electionIn just about six months, the Presidential election will take place. As you've probably already heard, Donald Trump and Joe Biden are the presumptive nominees for the Republicans, and Democrats, respectively. Meanwhile, we are on the cusp of a historically bearish time for stocks (sell in May). I was curious i...Read More

Ira EpsteinGold's daily chart shows a pattern of an inside consolidation defined by the short-term swing lines..Read More